D.C. Current

The War on Protectionism

The challenge to make foreign investors feel welcome.

THERE'S A FASCINATING STORY BEHIND THE STORY of the May 10 dual warning against protectionism by President George Bush and Treasury Secretary Henry Paulson. Ostensibly, the pair were motivated by a debate on Capitol Hill over the makeup of future trade agreements. Democrats want stronger language in treaties to protect American labor from losing out to low-paid foreign workers. Ironically, new numbers indicate that Congress' creeping xenophobia already has cost America hundreds of thousands of jobs. Paulson shared the numbers with Bush. Both thought the trend was disturbing enough to warrant immediate action on their...